This information relates to McCall Real Estate Agency. Oct. 1 Stockholders invest $33,540 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $41,520. 3 Buys office furniture for $3,690, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $11,190 (not paid by Roads at this time). 10 Receives cash of $155 as commission for acting as rental agent renting an apartment. 27 Pays $660 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $3,460 in salary for October. Journalize the transactions.
This information relates to McCall Real Estate Agency. Oct. 1 Stockholders invest $33,540 in exchange for common stock of the corporation. 2 Hires an administrative assistant at an annual salary of $41,520. 3 Buys office furniture for $3,690, on account. 6 Sells a house and lot for E. C. Roads; commissions due from Roads, $11,190 (not paid by Roads at this time). 10 Receives cash of $155 as commission for acting as rental agent renting an apartment. 27 Pays $660 on account for the office furniture purchased on October 3. 30 Pays the administrative assistant $3,460 in salary for October. Journalize the transactions.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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This information relates to McCall Real Estate Agency.
| Oct. 1 | Stockholders invest $33,540 in exchange for common stock of the corporation. | |
| 2 | Hires an administrative assistant at an annual salary of $41,520. | |
| 3 | Buys office furniture for $3,690, on account. | |
| 6 | Sells a house and lot for E. C. Roads; commissions due from Roads, $11,190 (not paid by Roads at this time). | |
| 10 | Receives cash of $155 as commission for acting as rental agent renting an apartment. | |
| 27 | Pays $660 on account for the office furniture purchased on October 3. | |
| 30 | Pays the administrative assistant $3,460 in salary for October. |
Journalize the transactions.
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